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# Cleo
- URL: https://entrepreneurplus.co.uk/startups/cleo/
- Published: 2026-10-30T15:46:36.000Z
- Updated: 2026-10-31T05:26:31.000Z
- Description: AI money assistant that helps young people budget, build credit and avoid overdrafts.
- Author: Editorial Desk
- Tags: #ep-startup

AI money assistant that helps young people budget, build credit and avoid overdrafts.

- Fintech
- Series B+
- London

Sector

Fintech

Stage

Series B+

Based in

London

Founded

2016

Funding raised

$138M

Website

[meetcleo.com](https://www.meetcleo.com/?ref=entrepreneurplus.co.uk)

Cleo is a London-founded fintech whose AI chatbot helps users, mostly in the United States, manage day-to-day money. The app connects to bank accounts, tracks spending, nudges users on budgets and offers products such as cash advances and credit-building tools, with a conversational tone aimed at Gen Z and younger millennials. Founded in 2016 by Barney Hussey-Yeo, Cleo raised a $44m Series B in 2020 and an $80m round in 2022 at a reported $500m valuation; Dealroom data cited by UKTN puts total funding at around $138m. Sifted reported in 2025 that revenue more than doubled year on year, that the company reached profitability, and that its CEO has signalled a possible IPO.

## Team

- **Barney Hussey-Yeo**, Founder & CEO

## Backed by

- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/balderton-capital-logo.png)Balderton Capital](https://entrepreneurplus.co.uk/investors/balderton-capital/)
- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/localglobe-logo.svg)LocalGlobe](https://entrepreneurplus.co.uk/investors/localglobe/)

[LinkedIn](https://www.linkedin.com/company/meetcleo?ref=entrepreneurplus.co.uk) · [X (Twitter)](https://x.com/meet%5Fcleo?ref=entrepreneurplus.co.uk)

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